IQ EQ FUND MANAGEMENT IRELAND Ltd Boosts Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in PPG Industries, Inc. (NYSE:PPG) by 9.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 64,471 shares of the specialty chemicals company’s stock after buying an additional 5,300 shares during the quarter. PPG Industries makes up approximately 0.9% of IQ EQ FUND MANAGEMENT IRELAND Ltd’s portfolio, making the stock its 23rd biggest holding. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in PPG Industries were worth $8,540,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Financial Connections Group Inc. purchased a new position in PPG Industries in the second quarter valued at about $25,000. Riverview Trust Co purchased a new position in PPG Industries in the first quarter valued at about $34,000. Rothschild Investment LLC purchased a new position in PPG Industries in the second quarter valued at about $37,000. LRI Investments LLC purchased a new position in PPG Industries in the first quarter valued at about $53,000. Finally, DiNuzzo Private Wealth Inc. increased its holdings in PPG Industries by 103.6% in the first quarter. DiNuzzo Private Wealth Inc. now owns 399 shares of the specialty chemicals company’s stock valued at $58,000 after buying an additional 203 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PPG. Barclays dropped their price objective on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, July 22nd. UBS Group boosted their price target on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Bank of America decreased their price objective on PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Citigroup reduced their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Finally, Royal Bank of Canada lowered their price target on shares of PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a report on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $151.08.

PPG Industries Stock Up 0.4 %

Shares of NYSE PPG opened at $130.36 on Thursday. The stock has a market capitalization of $30.57 billion, a PE ratio of 22.02, a P/E/G ratio of 1.72 and a beta of 1.26. The company has a quick ratio of 1.05, a current ratio of 1.49 and a debt-to-equity ratio of 0.73. The firm has a fifty day moving average of $126.73 and a 200-day moving average of $129.26. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.02. The firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.93 billion. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.25 earnings per share. On average, analysts anticipate that PPG Industries, Inc. will post 8.24 EPS for the current year.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.